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2022 (3) TMI 413 - AT - Insolvency and BankruptcyLegal expenses in defending the compliances instituted by the 1st Respondent before the Insolvency Bankruptcy Board of India and ICAI - grievance of the Appellant is that his remuneration on being appointed as “Interim Resolution Professional” of the Corporate Debtor was fixed at Rupees one lakh only, out of which Rupees Fifty Thousand Only was paid by the 1st Respondent - HELD THAT:- The fee payable to the Appellant/Applicant and as such the balance of claim, this Tribunal comes to a consequent conclusion that the Instant Company Appeal stands Sans merits. It is of the earnest opinion that the ‘Adjudicating Authority’ (National Company Law Tribunal, Chennai Bench-1, Chennai) had rightly opined by the COC had not approved the legal expenses payable to the Interim Resolution Professional and the legal cost incurred by him as required, in terms of the ingredients of the Regulation 33 that the Resolution Professional Regulations and further that the claim of the IRP could not be considered at this stage. Appeal dismissed.
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